H's of Life Insurance Flashcards
Hazard, Physical
A type of hazard that arises from a person’s physical characteristics, such as as physical disability because of either current circumstance or a condition present at birth.
Health Insurance
Protection against loss because of sickness or bodily injury.
Health Maintenance Organization (HMO)
A prepaid medical service plan in which specified providers contract with the HMO to deliver services. Preventive medicine is the focus of the HMO.
Health Reimbursement Accounts (HRAs)
Health plans that allow employers to set aside funds to reimburse employees for qualified medical expenses.
Health Savings Accounts (HSAs)
Health plans intended to help individuals save for qualified health expenses.
Home Health Agency
An agency certified by the insured’s health plan that delivers health care services under the contract.
Home Health Care
A type of care in which home health aide or part-time nursing services, speech therapy, occupational or physical therapy services are given in the insured’s home.
Home Health Services
A covered expense under Medicare Part A in which a licensed home health agency provides home health care to an insured.
Hospice
A facility for the terminally ill that offers supportive care such as symptom relief and pain management to the patient and their family. Medicare Part A covers hospice care.
Hospital Confinement Rider
An optional disability income rider that waives the elimination period when an insured is admitted to a hospital as an inpatient.
Hazard
A circumstance that increases the likelihood of a loss.
Hazard (Moral)
The effect of a person’s reputation, character, living habits, etc. on his/her insurability. For example a person that has not feelings about stealing something. They have no morals.
Hazard (Morale)
The effect a person’s indifference concerning loss has on the risk to be insured. For example, a woman who feels no worries about driving will applying makeup. A persons disregard for caring about the safety of a situation.
